Upcoming Dividend • Jun 23
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 30 June 2026. Payment date: 02 July 2026. Payout ratio is a comfortable 40% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of French dividend payers (5.3%). Lower than average of industry peers (3.0%). Declared Dividend • May 31
Dividend of €0.20 announced Dividend of €0.20 is the same as last year. Ex-date: 30th June 2026 Payment date: 2nd July 2026 Dividend yield will be 0.9%, which is lower than the industry average of 4.8%. Payout Ratios Payout ratio: 40%. Cash payout ratio: 5%. Announcement • May 30
Jacquet Metals SA announces Annual dividend, payable on July 02, 2026 Jacquet Metals SA announced Annual dividend of EUR 0.2000 per share payable on July 02, 2026, ex-date on June 30, 2026 and record date on July 01, 2026. Price Target Changed • May 22
Price target increased by 9.1% to €24.00 Up from €22.00, the current price target is an average from 2 analysts. New target price is 14% above last closing price of €21.05. Stock is up 4.7% over the past year. The company is forecast to post earnings per share of €1.39 for next year compared to €0.50 last year. Announcement • May 22
Jacquet Metals SA, Annual General Meeting, Jun 26, 2026 Jacquet Metals SA, Annual General Meeting, Jun 26, 2026. Location: 44 quai charles de gaulle, lyon France Reported Earnings • May 15
First quarter 2026 earnings released: EPS: €0.41 (vs €0.10 in 1Q 2025) First quarter 2026 results: EPS: €0.41 (up from €0.10 in 1Q 2025). Revenue: €502.4m (down 1.7% from 1Q 2025). Net income: €8.88m (up 290% from 1Q 2025). Profit margin: 1.8% (up from 0.4% in 1Q 2025). The increase in margin was driven by lower expenses. Revenue is forecast to grow 5.0% p.a. on average during the next 3 years, compared to a 4.6% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 106 percentage points per year, which is a significant difference in performance. Reported Earnings • Mar 23
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: €0.48 (up from €0.29 in FY 2024). Revenue: €1.84b (down 6.6% from FY 2024). Net income: €10.4m (up 72% from FY 2024). Profit margin: 0.6% (up from 0.3% in FY 2024). The increase in margin was driven by lower expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 28%. Revenue is forecast to grow 5.1% p.a. on average during the next 2 years, compared to a 4.7% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 113 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Mar 02
Now 24% overvalued after recent price rise Over the last 90 days, the stock has risen 35% to €24.00. The fair value is estimated to be €19.33, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 106%. Revenue is forecast to grow by 9.8% in 2 years. Earnings are forecast to grow by 292% in the next 2 years. Price Target Changed • Jan 20
Price target increased by 8.6% to €23.75 Up from €21.88, the current price target is an average from 4 analysts. New target price is 7.0% above last closing price of €22.20. Stock is up 48% over the past year. The company is forecast to post earnings per share of €0.67 for next year compared to €0.29 last year. Buy Or Sell Opportunity • Jan 16
Now 22% overvalued after recent price rise Over the last 90 days, the stock has risen 24% to €22.00. The fair value is estimated to be €18.04, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 106%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 315% in the next 2 years. Reported Earnings • Nov 07
Third quarter 2025 earnings released: EPS: €0.12 (vs €0.026 in 3Q 2024) Third quarter 2025 results: EPS: €0.12 (up from €0.026 in 3Q 2024). Revenue: €440.5m (down 6.0% from 3Q 2024). Net income: €2.63m (up 417% from 3Q 2024). Profit margin: 0.6% (up from 0.1% in 3Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 108 percentage points per year, which is a significant difference in performance. Major Estimate Revision • Nov 04
Consensus EPS estimates fall by 12% The consensus outlook for fiscal year 2025 has been updated. 2025 EPS estimate fell from €0.774 to €0.681. Revenue forecast unchanged from €1.87b at last update. Net income forecast to grow 212% next year vs 14% growth forecast for Trade Distributors industry in France. Consensus price target of €22.20 unchanged from last update. Share price fell 3.0% to €17.52 over the past week. Reported Earnings • Sep 12
Second quarter 2025 earnings released Second quarter 2025 results: Revenue: €475.8m (down 7.7% from 2Q 2024). Net income: €4.13m (up 387% from 2Q 2024). Profit margin: 0.9% (up from 0.2% in 2Q 2024). The increase in margin was driven by lower expenses. Revenue is forecast to grow 4.2% p.a. on average during the next 3 years, compared to a 3.3% growth forecast for the Trade Distributors industry in France. Buy Or Sell Opportunity • Sep 04
Now 21% overvalued Over the last 90 days, the stock has fallen 13% to €18.98. The fair value is estimated to be €15.65, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 10% over the last 3 years. Earnings per share has declined by 88%. Revenue is forecast to grow by 11% in 2 years. Earnings are forecast to grow by 905% in the next 2 years. Upcoming Dividend • Jun 24
Upcoming dividend of €0.20 per share Eligible shareholders must have bought the stock before 01 July 2025. Payment date: 03 July 2025. Payout ratio is a comfortable 69% and this is well supported by cash flows. Trailing yield: 0.9%. Lower than top quartile of French dividend payers (5.4%). Lower than average of industry peers (4.4%). Announcement • May 22
Jacquet Metals SA, Annual General Meeting, Jun 27, 2025 Jacquet Metals SA, Annual General Meeting, Jun 27, 2025. Location: 44 quai charles de gaulle, lyon France Declared Dividend • May 18
Dividend of €0.20 announced Dividend of €0.20 is the same as last year. Ex-date: 1st July 2025 Payment date: 3rd July 2025 Dividend yield will be 1.0%, which is lower than the industry average of 4.8%. Payout Ratios Payout ratio: 74%. Cash payout ratio: 10%. Announcement • May 16
Jacquet Metals SA announces Annual dividend, payable on July 03, 2025 Jacquet Metals SA announced Annual dividend of EUR 0.2000 per share payable on July 03, 2025, ex-date on July 01, 2025 and record date on July 02, 2025. Reported Earnings • May 15
First quarter 2025 earnings released: EPS: €0.10 (vs €0.12 in 1Q 2024) First quarter 2025 results: EPS: €0.10 (down from €0.12 in 1Q 2024). Revenue: €510.9m (down 8.5% from 1Q 2024). Net income: €2.28m (down 17% from 1Q 2024). Profit margin: 0.4% (down from 0.5% in 1Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 4.4% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 89 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • Apr 16
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to €20.15, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Trade Distributors industry in Europe. Total returns to shareholders of 1.6% over the past three years. Major Estimate Revision • Mar 19
Consensus EPS estimates fall by 11% The consensus outlook for earnings per share (EPS) in fiscal year 2025 has deteriorated. 2025 revenue forecast decreased from €2.04b to €2.02b. EPS estimate also fell from €1.24 per share to €1.10 per share. Net income forecast to grow 297% next year vs 17% growth forecast for Trade Distributors industry in France. Consensus price target up from €18.55 to €20.88. Share price rose 7.5% to €21.10 over the past week. Reported Earnings • Mar 13
Third quarter 2024 earnings released: EPS: €0.026 (vs €0.002 in 3Q 2023) Third quarter 2024 results: EPS: €0.026 (up from €0.002 in 3Q 2023). Revenue: €468.8m (down 5.1% from 3Q 2023). Net income: €509.0k (up €461.0k from 3Q 2023). Profit margin: 0.1% (up from 0% in 3Q 2023). Revenue is forecast to grow 3.5% p.a. on average during the next 3 years, compared to a 4.0% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 1% per year, which means it has not declined as severely as earnings. Price Target Changed • Mar 13
Price target increased by 8.9% to €20.20 Up from €18.55, the current price target is an average from 4 analysts. New target price is 5.3% above last closing price of €19.18. Stock is up 8.0% over the past year. The company is forecast to post earnings per share of €0.35 for next year compared to €2.26 last year. Valuation Update With 7 Day Price Move • Mar 06
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €20.60, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 16x in the Trade Distributors industry in Europe. Total returns to shareholders of 12% over the past three years. Reported Earnings • Nov 08
Third quarter 2024 earnings released: EPS: €0.026 (vs €0.002 in 3Q 2023) Third quarter 2024 results: EPS: €0.026 (up from €0.002 in 3Q 2023). Revenue: €468.8m (down 5.1% from 3Q 2023). Net income: €509.0k (up €461.0k from 3Q 2023). Profit margin: 0.1% (up from 0% in 3Q 2023). Revenue is forecast to grow 4.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, earnings per share has fallen by 54% per year but the company’s share price has only fallen by 11% per year, which means it has not declined as severely as earnings. New Risk • Sep 23
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 41% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Large one-off items impacting financial results. Profit margins are more than 30% lower than last year (0.3% net profit margin). Reported Earnings • Sep 13
Second quarter 2024 earnings released: EPS: €0.039 (vs €0.24 in 2Q 2023) Second quarter 2024 results: EPS: €0.039 (down from €0.24 in 2Q 2023). Revenue: €515.5m (down 11% from 2Q 2023). Net income: €847.0k (down 84% from 2Q 2023). Profit margin: 0.2% (down from 0.9% in 2Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 3.4% p.a. on average during the next 3 years, compared to a 2.9% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Price Target Changed • Sep 13
Price target decreased by 7.6% to €19.88 Down from €21.50, the current price target is an average from 4 analysts. New target price is 40% above last closing price of €14.20. Stock is down 14% over the past year. The company is forecast to post earnings per share of €0.52 for next year compared to €2.26 last year. Major Estimate Revision • Sep 08
Consensus EPS estimates fall by 57% The consensus outlook for fiscal year 2024 has been updated. 2024 EPS estimate fell from €0.71 to €0.305 per share. Revenue forecast steady at €2.05b. Net income forecast to grow 43% next year vs 43% growth forecast for Trade Distributors industry in France. Consensus price target down from €21.50 to €20.50. Share price fell 6.7% to €14.48 over the past week. Declared Dividend • Jun 17
Dividend of €0.20 announced Shareholders will receive a dividend of €0.20. Ex-date: 3rd July 2024 Payment date: 5th July 2024 Dividend yield will be 1.3%, which is lower than the industry average of 4.8%. Sustainability & Growth Dividend is well covered by both earnings (9% earnings payout ratio) and cash flows (3% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. EPS is expected to grow by 356% over the next 3 years, which should provide support to the dividend and adequate earnings cover. Buy Or Sell Opportunity • Jun 12
Now 21% overvalued Over the last 90 days, the stock has fallen 5.4% to €16.80. The fair value is estimated to be €13.93, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 12% over the last 3 years. Earnings per share has declined by 8.6%. Revenue is forecast to grow by 2.0% in 2 years. Earnings are forecast to grow by 328% in the next 2 years. Announcement • May 25
Jacquet Metals SA, Annual General Meeting, Jun 28, 2024 Jacquet Metals SA, Annual General Meeting, Jun 28, 2024. Location: 44 quai charles de gaulle, lyon France Major Estimate Revision • May 22
Consensus EPS estimates fall by 43% The consensus outlook for earnings per share (EPS) in fiscal year 2024 has deteriorated. 2024 revenue forecast decreased from €2.19b to €2.07b. EPS estimate also fell from €1.87 per share to €1.07 per share. Net income forecast to grow 179% next year vs 179% growth forecast for Trade Distributors industry in France. Consensus price target up from €21.00 to €21.50. Share price fell 11% to €17.74 over the past week. Reported Earnings • May 17
First quarter 2024 earnings released: EPS: €0.12 (vs €1.90 in 1Q 2023) First quarter 2024 results: EPS: €0.12 (down from €1.90 in 1Q 2023). Revenue: €558.3m (down 19% from 1Q 2023). Net income: €2.74m (down 94% from 1Q 2023). Profit margin: 0.5% (down from 6.3% in 1Q 2023). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 1.7% p.a. on average during the next 3 years, compared to a 2.4% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, earnings per share has fallen by 9% per year whereas the company’s share price has fallen by 4% per year. Reported Earnings • Apr 21
Full year 2023 earnings: EPS and revenues exceed analyst expectations Full year 2023 results: EPS: €2.26 (down from €7.83 in FY 2022). Revenue: €2.23b (down 17% from FY 2022). Net income: €50.7m (down 72% from FY 2022). Profit margin: 2.3% (down from 6.7% in FY 2022). The decrease in margin was driven by lower revenue. Revenue exceeded analyst estimates by 1.2%. Earnings per share (EPS) also surpassed analyst estimates by 16%. Revenue is forecast to stay flat during the next 2 years compared to a 1.6% growth forecast for the Trade Distributors industry in France. Over the last 3 years on average, earnings per share has increased by 17% per year but the company’s share price has fallen by 3% per year, which means it is significantly lagging earnings. New Risk • Mar 17
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 10% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 10% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Profit margins are more than 30% lower than last year (2.9% net profit margin). Major Estimate Revision • Nov 14
Consensus EPS estimates increase by 17% The consensus outlook for fiscal year 2023 has been updated. 2023 EPS estimate increased from €1.67 to €1.95. Revenue forecast steady at €2.20b. Net income forecast to shrink 16% next year vs 4.3% growth forecast for Trade Distributors industry in France . Consensus price target down from €23.48 to €22.00. Share price rose 6.8% to €17.56 over the past week. Reported Earnings • Nov 09
Third quarter 2023 earnings released: EPS: €0.002 (vs €1.50 in 3Q 2022) Third quarter 2023 results: EPS: €0.002 (down from €1.50 in 3Q 2022). Revenue: €494.1m (down 23% from 3Q 2022). Net income: €48.0k (down 100% from 3Q 2022). Profit margin: 0% (down from 5.4% in 3Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 6.5% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 15% per year, which means it is significantly lagging earnings growth. Price Target Changed • Nov 09
Price target decreased by 16% to €21.00 Down from €24.98, the current price target is an average from 4 analysts. New target price is 30% above last closing price of €16.20. Stock is up 1.3% over the past year. The company is forecast to post earnings per share of €2.05 for next year compared to €7.82 last year. Announcement • Nov 01
Jacquet Metals SA (ENXTPA : JCQ) acquired Special Steel Distribution Activities in Czech Republic, Poland, Slovakia, Hungary, Lithuania, Eston from Swiss Steel Holding AG (SWX : STLN). Jacquet Metals SA (ENXTPA : JCQ) acquired Special Steel Distribution Activities in Czech Republic, Poland, Slovakia, Hungary, Lithuania, Eston from Swiss Steel Holding AG (SWX : STLN) on October 31, 2023. The Special Steel Distribution Activities have generated total net revenues of €158 million and an EBITDA of €12 million in 2022 with 267 employees. The transaction has been approved by the European Commission.Jacquet Metals SA (ENXTPA : JCQ) completed the acquisition of Special Steel Distribution Activities in Czech Republic, Poland, Slovakia, Hungary, Lithuania, Eston from Swiss Steel Holding AG (SWX : STLN) on October 31, 2023. Major Estimate Revision • Sep 20
Consensus EPS estimates fall by 48% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has deteriorated. 2023 revenue forecast decreased from €2.32b to €2.20b. EPS estimate also fell from €3.19 per share to €1.67 per share. Net income forecast to shrink 52% next year vs 4.8% growth forecast for Trade Distributors industry in France . Consensus price target down from €24.98 to €23.48. Share price fell 11% to €15.74 over the past week. Reported Earnings • Sep 15
Second quarter 2023 earnings released: EPS: €0.24 (vs €2.72 in 2Q 2022) Second quarter 2023 results: EPS: €0.24 (down from €2.72 in 2Q 2022). Revenue: €578.7m (down 24% from 2Q 2022). Net income: €5.42m (down 91% from 2Q 2022). Profit margin: 0.9% (down from 8.3% in 2Q 2022). The decrease in margin was driven by lower revenue. Revenue is forecast to stay flat during the next 3 years compared to a 6.8% growth forecast for the Trade Distributors industry in Europe. Over the last 3 years on average, earnings per share has increased by 65% per year but the company’s share price has only increased by 25% per year, which means it is significantly lagging earnings growth. Board Change • Jul 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 5 experienced directors. 5 highly experienced directors. Independent Director Dominique Takizawa was the last director to join the board, commencing their role in 2020. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Jun 28
Upcoming dividend of €1.00 per share at 5.3% yield Eligible shareholders must have bought the stock before 05 July 2023. Payment date: 07 July 2023. Payout ratio is a comfortable 14% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of French dividend payers (5.2%). In line with average of industry peers (5.2%). Major Estimate Revision • May 17
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in fiscal year 2023 has improved. 2023 revenue forecast increased from €2.22b to €2.26b. EPS estimate increased from €2.10 to €2.47 per share. Net income forecast to shrink 66% next year vs 3.5% growth forecast for Trade Distributors industry in France . Consensus price target of €23.50 unchanged from last update. Share price rose 2.7% to €18.90 over the past week. Reported Earnings • May 12
First quarter 2023 earnings released: EPS: €1.92 (vs €2.75 in 1Q 2022) First quarter 2023 results: EPS: €1.92 (down from €2.75 in 1Q 2022). Revenue: €692.0m (down 4.4% from 1Q 2022). Net income: €44.0m (down 30% from 1Q 2022). Profit margin: 6.4% (down from 8.7% in 1Q 2022). The decrease in margin was driven by lower revenue. Revenue is expected to decline by 3.6% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Europe are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 83% per year but the company’s share price has only increased by 22% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 16
Full year 2022 earnings released Full year 2022 results: Revenue: €2.68b (up 36% from FY 2021). Net income: €180.0m (up 49% from FY 2021). Profit margin: 6.7% (up from 6.1% in FY 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 6.9% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Europe are expected to grow by 4.2%. Announcement • Feb 17
Jacquet Metals SA (ENXTPA:JCQ) signed an agreement to acquire Several distribution companies of Swiss Steel Group from Swiss Steel Holding AG (SWX:STLN). Jacquet Metals SA (ENXTPA:JCQ) signed an agreement to acquire Several distribution companies of Swiss Steel Group from Swiss Steel Holding AG (SWX:STLN) on February 16, 2023. The completion of the transaction is subject to the usual conditions precedent including the approval of the transaction by the competent competition authorities. Completion of the operation is expected in the second quarter of 2023. Jacquet Metals SA will finance the entire operation using its available cash. The parties have agreed to keep the acquisition price confidential . The total Revenue is €158 million and EBITA €12 million. Buying Opportunity • Sep 10
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 27%. The fair value is estimated to be €18.33, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 13% over the last 3 years. Earnings per share has grown by 94%. Revenue is forecast to decline by 16% in 2 years. Earnings is forecast to decline by 65% in the next 2 years. Reported Earnings • Sep 09
First quarter 2022 earnings released: EPS: €2.75 (vs €0.70 in 1Q 2021) First quarter 2022 results: EPS: €2.75 (up from €0.70 in 1Q 2021). Revenue: €723.6m (up 63% from 1Q 2021). Net income: €63.2m (up 287% from 1Q 2021). Profit margin: 8.7% (up from 3.7% in 1Q 2021). The increase in margin was driven by higher revenue. Revenue is expected to decline by 4.6% p.a. on average during the next 3 years, while revenues in the Trade Distributors industry in Europe are expected to grow by 4.1%. Over the last 3 years on average, earnings per share has increased by 74% per year but the company’s share price has fallen by 5% per year, which means it is significantly lagging earnings. Major Estimate Revision • Sep 09
Consensus EPS estimates increase by 10% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €2.40b to €2.54b. EPS estimate increased from €6.33 to €6.98 per share. Net income forecast to shrink 18% next year vs 13% growth forecast for Trade Distributors industry in France . Consensus price target down from €35.90 to €28.63. Share price fell 7.3% to €14.64 over the past week. Price Target Changed • Sep 08
Price target decreased to €28.63 Down from €33.08, the current price target is an average from 4 analysts. New target price is 90% above last closing price of €15.10. Stock is down 34% over the past year. The company is forecast to post earnings per share of €6.33 for next year compared to €5.21 last year. Upcoming Dividend • Jun 23
Upcoming dividend of €1.00 per share Eligible shareholders must have bought the stock before 30 June 2022. Payment date: 04 July 2022. Payout ratio is a comfortable 14% but the company is not cash flow positive. Trailing yield: 5.8%. Within top quartile of French dividend payers (5.4%). Higher than average of industry peers (4.5%). Major Estimate Revision • May 13
Consensus EPS estimates increase by 32% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €2.22b to €2.40b. EPS estimate increased from €4.78 to €6.33 per share. Net income forecast to grow 21% next year vs 22% growth forecast for Trade Distributors industry in France. Consensus price target of €33.08 unchanged from last update. Share price rose 7.0% to €21.40 over the past week. Reported Earnings • Apr 30
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €5.25 (up from €0.49 in FY 2020). Revenue: €1.97b (up 44% from FY 2020). Net income: €120.8m (up €109.6m from FY 2020). Profit margin: 6.1% (up from 0.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 13%, compared to a 10% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Major Estimate Revision • Apr 08
Consensus EPS estimates increase by 17% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €2.11b to €2.20b. EPS estimate increased from €3.65 to €4.27 per share. Net income forecast to shrink 19% next year vs 21% growth forecast for Trade Distributors industry in France . Consensus price target broadly unchanged at €32.83. Share price was steady at €19.50 over the past week. Major Estimate Revision • Mar 16
Consensus EPS estimates increase by 20% The consensus outlook for earnings per share (EPS) in 2022 has improved. 2022 revenue forecast increased from €1.96b to €2.11b. EPS estimate increased from €3.05 to €3.65 per share. Net income forecast to shrink 31% next year vs 18% growth forecast for Trade Distributors industry in France . Consensus price target broadly unchanged at €32.23. Share price was steady at €20.40 over the past week. Reported Earnings • Mar 11
Full year 2021 earnings: EPS and revenues exceed analyst expectations Full year 2021 results: EPS: €5.26 (up from €0.49 in FY 2020). Revenue: €1.97b (up 44% from FY 2020). Net income: €120.8m (up €109.6m from FY 2020). Profit margin: 6.1% (up from 0.8% in FY 2020). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 4.4%. Earnings per share (EPS) also surpassed analyst estimates by 17%. Over the next year, revenue is forecast to grow 6.2%, compared to a 9.5% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 42% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Reported Earnings • Nov 22
Third quarter 2021 earnings: Revenues exceed analysts expectations while EPS lags behind Third quarter 2021 results: EPS: €1.70. Revenue: €506.3m (up 62% from 3Q 2020). Net income: €39.1m (up €43.1m from 3Q 2020). Profit margin: 7.7% (up from net loss in 3Q 2020). The move to profitability was driven by higher revenue. Revenue exceeded analyst estimates by 31%. Earnings per share (EPS) also surpassed analyst estimates. Earnings per share (EPS) surpassed analyst estimates. Over the next year, revenue is forecast to grow 9.9%, compared to a 6.9% growth forecast for the industry in France. Over the last 3 years on average, earnings per share has increased by 15% per year whereas the company’s share price has increased by 13% per year. Reported Earnings • Sep 11
Second quarter 2021 earnings released The company reported a strong second quarter result with improved earnings, revenues and profit margins. Second quarter 2021 results: Revenue: €491.7m (up 57% from 2Q 2020). Net income: €27.4m (up €42.8m from 2Q 2020). Profit margin: 5.6% (up from net loss in 2Q 2020). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Price Target Changed • Sep 10
Price target increased to €24.04 Up from €22.28, the current price target is an average from 4 analysts. New target price is 6.8% above last closing price of €22.50. Stock is up 137% over the past year. Valuation Update With 7 Day Price Move • Sep 09
Investor sentiment improved over the past week After last week's 19% share price gain to €23.00, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 20x in the Trade Distributors industry in Europe. Total returns to shareholders of 16% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €20.81 per share. Upcoming Dividend • Jun 22
Upcoming dividend of €0.40 per share Eligible shareholders must have bought the stock before 29 June 2021. Payment date: 01 July 2021. Trailing yield: 2.0%. Lower than top quartile of French dividend payers (3.7%). Lower than average of industry peers (2.6%). Price Target Changed • May 07
Price target increased to €22.10 Up from €20.20, the current price target is an average from 4 analysts. New target price is approximately in line with last closing price of €22.10. Stock is up 124% over the past year. Major Estimate Revision • May 07
Consensus EPS estimates increase to €1.94 The consensus outlook for earnings per share (EPS) in 2021 has improved. 2021 revenue forecast increased from €1.53b to €1.57b. EPS estimate increased from €1.30 to €1.94 per share. Net income forecast to grow 296% next year vs 34% growth forecast for Trade Distributors industry in France. Consensus price target up from €19.51 to €21.34. Share price rose 10% to €22.10 over the past week. Reported Earnings • Apr 26
Full year 2020 earnings released: EPS €0.49 (vs €0.53 in FY 2019) The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €1.36b (down 16% from FY 2019). Net income: €11.2m (down 11% from FY 2019). Profit margin: 0.8% (in line with FY 2019). Over the last 3 years on average, earnings per share has fallen by 55% per year but the company’s share price has only fallen by 15% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 11
Revenue beats expectations Revenue exceeded analyst estimates by 1.7%. Over the next year, revenue is forecast to grow 10%, compared to a 4.8% growth forecast for the Trade Distributors industry in France. Reported Earnings • Mar 10
Full year 2020 earnings released The company reported a poor full year result with weaker earnings and revenues, although profit margins were flat. Full year 2020 results: Revenue: €1.37b (down 16% from FY 2019). Net income: €11.0m (down 12% from FY 2019). Profit margin: 0.8% (in line with FY 2019). Is New 90 Day High Low • Feb 22
New 90-day high: €16.26 The company is up 33% from its price of €12.20 on 24 November 2020. The French market is up 6.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Trade Distributors industry, which is up 39% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.07 per share. Price Target Changed • Feb 22
Price target raised to €15.18 Up from €12.60, the current price target is an average from 4 analysts. The new target price is 6.7% below the current share price of €16.26. As of last close, the stock is up 24% over the past year. Is New 90 Day High Low • Feb 03
New 90-day high: €15.16 The company is up 52% from its price of €9.95 on 04 November 2020. The French market is up 13% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Trade Distributors industry, which is up 35% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.10 per share. 
